United Spirits Limited (USL), the Indian subsidiary of Diageo, has announced the complete sale of its stake in Royal Challengers Sports Pvt. Ltd. (RCSPL) in a landmark all-cash deal valued at USD 1.76 billion (approximately INR 16,528 crore).

RCSPL owns and operates the Royal Challengers Bengaluru teams in both the Indian Premier League (IPL) and the Women’s Premier League (WPL). The acquiring consortium includes the Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone through its private equity arm BXPE.

With this acquisition, the consortium will gain full ownership and operational rights over both the men’s and women’s RCB franchises, which currently hold championship titles in their respective leagues. The women’s team secured its second trophy earlier this month, while the men’s side is set to begin its title defence this Saturday.

The sale follows months of speculation regarding the future of the franchise, particularly after a tragic incident outside the M. Chinnaswamy Stadium on June 4, 2025. A stampede during RCB’s title celebration resulted in 11 fatalities, prompting increased scrutiny and ultimately contributing to USL’s strategic review of its ownership.

That review process, initiated in November last year, has now concluded with this high-profile transaction. However, the deal remains subject to customary closing conditions, including approvals from the Board of Control for Cricket in India and the Competition Commission of India.

Praveen Someshwar, Managing Director and CEO of USL, emphasized the franchise’s growth and legacy in his statement. “RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL. It has built a globally recognised brand and a passionate fan base,” he said. “We are excited for the future of RCB under the stewardship of the new owner.”

The acquiring consortium also expressed optimism about the transition. “We are proud to become custodians of RCB and grateful to USL and Diageo for the franchise they have built. RCB’s championship-winning culture, its deep connection to Bengaluru, and one of the most passionate fan bases in world sport make this an extraordinary opportunity,” the group said in a joint statement.

The deal marks one of the most significant ownership changes in Indian cricket, signaling a new era for one of the sport’s most valuable franchises.